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(The Center Square) – Illinois employers are bracing for minimum-wage hikes, which may lead to more job cuts around the state. Illinois’ minimum wage is rising from $14 per hour to $15 on Jan ...
Average wage in the United States was $69,392 in 2020. [1] Median income per person in the U.S. was $42,800 in 2019. [2] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings. (See Income inequality in the United States.)
This is the map and list of American countries by monthly net (after taxes) average wage. The chart below reflects the average (mean) wage as reported by various data providers. The salary distribution is right-skewed, therefore more than 50% of people earn less than the average
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
On Jan. 1st, 2023, the minimum wage in Illinois will increase to $13 an hour, with a tipped minimum wage of $7.80 an hour. This continues a trend of raising the state’s minimum wage by one ...
The wage then was $1.60, which in today’s dollars would be $14.39. That $1.60 provided minimum wage workers with their greatest purchasing power, Sklar said. “Every minimum wage increase since ...
[59] [60] By July 1, 2021, the minimum wage in Chicago was $15.00, with Illinois eventually matching the rate statewide by 2025. [61] As of July 1, 2024, the minimum wage in Chicago is $16.20 per hour for non-tipped employees and $11.02 for tipped employees. [62] Similarly, the minimum wage in Minneapolis, Minnesota had reached $15.00 per hour ...
Another update on the labor market and wages will come on Friday, when the October jobs report is slated for release at 8:30 a.m. ET. Josh Schafer is a reporter for Yahoo Finance.